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Ready to buy a new home? Failing to check that a lawyer is on the list of approved solicitors can put your transaction at risk of delay or failure.
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How does my firm apply to be on the Chesham Building Society Conveyancing Panel? How can my firm be reinstated onto the Chesham Building Society Conveyancing Panel?Find an Approved Solicitor on the Chesham Building Society Conveyancing Panel
Frequently asked questions relating to the Chesham Building Society Conveyancing Panel
I instructed a firm of solicitors to conveyancing on my remortgage three weeks ago having applied for a mortgage with Chesham Building Society. The law firm confirmed to me that they are on Chesham Building Society conveyancing panel and provided me their panel number. Chesham Building Society then ,via my broker advised that their panel number was dormant and would need to be reactivated. What happens next? Do I instruct a different law firm listed on the approved panel for Chesham Building Society?
You may be very frustrated with the lawyer but if it only go take a few more days they it may be worth waiting as, depending on how far progressed you are you may end up delaying the transaction by a number of weeks if you need to replace your solicitor You may wish to enlist the help of your broker to check with the Chesham Building Society as to the time frame to get your lawyer reinstated on the panel once again.
My solicitor has uncovered an inconsistency when comparing the assumptions in Chesham Building Society’s home valuation survey and what is in the conveyancing documents. My solicitor has advised that as he is on the Chesham Building Society conveyancing panel he needs to ensure that the bank is OK with this discrepancy and is still content to lend. Is my lawyer’s stance legitimate?
A precondition to being on the Chesham Building Society approved panel is to comply with the CML Handbook requirements (last updated for this lender on Chesham Building Society) which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
Do all the licensed conveyancers and solicitor practices listed on your search have online case tracking as I was under the impression that this was a precondition of being on the Chesham Building Society conveyancing panel?
No. There is no CML Part 2 or Building Society Association requirement relating to online case tracking. Some law firms operate such technology and some don't.
The solicitors that I recently instructed on my purchase in London has suddenly closed. I only went with them because I needed a lawyer on the Chesham Building Society conveyancing panel and my family lawyer was not. I gave them a cheque for £150 in advance. What do I do now?
If you have an estate agent involved then inform them immediately so that they can let the sellers know that there may be a slight delay due to the problems encountered. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Chesham Building Society conveyancing panel and notify the lender. If you have paid over any money it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors may be able to help
Are all conveyancing solicitors on the Chesham Building Society conveyancing panel regulated by the SRA?
As solicitors, in order to be on the Chesham Building Society conveyancing panel they would need to be regulated by the SRA. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
I am selling my house. I had a double glazing fitted in month 2010 but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Chesham Building Society are being a right pain. The solicitor who is on the Chesham Building Society conveyancing panel is recommending indemnity insurance as a solution but Chesham Building Society are requiring a building regulation certificate. Why do Chesham Building Society have a conveyancing panel of they don’t accept advice from them?
It is probably the case that Chesham Building Society have referred the matter to their valuer. The reason why Chesham Building Society may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing correctly and safely installed. It merely protects against enforcement action which is very unlikely anyway.
Me and my partner are buying a penthouse in Hendon. Conveyancing solicitors in Hendon are about to beretained. My agentrecommended that we check that the solicitor in Hendon is on the Chesham Building Society solicitors panel. Surely I don't need to do this, do I?
Not all Hendon conveyancing firms are on the Chesham Building Society conveyancing panel. Use the above search tool to find a Hendon conveyancing lawyer on the on the Chesham Building Society panel.